Saudi Arabia signs $20bn investment pact with Pakistan




Crown Prince Mohammed bin Salman on Sunday said Saudi Arabia has signed investment agreements worth $20 billion (£15.5 billion) during his high-profile visit to Pakistan, where tensions were flaring up with nuclear-armed rival India.

Kicking off his tour of South Asia and China with a far higher Pakistan investment than expected, the crown prince said the $20 billion figure represents only the start of an economic tie-up that would bring the historic Muslim allies even closer.

“It’s big for phase 1, and definitely it will grow every month and every year, and it will be beneficial to both countries,” said the crown prince.

“We have been a brotherly country, a friendly country to Pakistan. We’ve walked together in tough and good times, and we (will) continue.”

But Prince Mohammed’s visit is at risk of being overshadowed by Pakistan’s growing tensions with India. Earlier this week a suicide bomber killed 44 Indian paramilitary police in the disputed Kashmir region.

New Delhi has accused Pakistan of having a hand in the bombing and vowed to punish Islamabad, which denies involvement.

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